The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1887-04-27
MAY WHEAT MANIPULATORS.
Their Actions Spread COnsterna ton
Among the Bears.

Special to the Sentinel.
CHICAGO, April 23.-It is now certain that the
manipulators of May wheat on Change propose
to run their corner through the old crop options
up to ana including July. This has spread
CONSERVATION in the ranks of the "bears," as
when signs Of a squeeze in May first developed
the crowd Immediately became free sellers OF
the other futures on the theory that it was an
old-fashioned corner and that the load
gathered in May would be dumped over in June.
OF: late too, since the clique became buyers of
June, and that option has overhauled May so
last, many traders have sold in belief that the
manipulators were changing forward their
loads and running away from the
cash property. Both OF these suggestions
seem to have been way wrong George Walker
d Co. and Rosenfeld Il Co. make no secret Of the
intentions OF their customers. These two
houses now own about c, 600 900 bushels of grain.
and they declare that on May the receipts will
be taken in and the cash paid out. Kershaw d
Co. and Irwin. Green Ie Co. are active buyers OF
May, and it can scarcely be believed that they
would be taking that option within less than
week of delivery day unless they wanted the
cash property and nothing else.
Export clearances are large and seaboard
stocks light. Receipts here are increasing rap
idly, showing that the threats of the shorts
that they would be on hand with cash
grain to deliver are not all
in vain. Old malt-houses and other
irregular places about town have been
leased or bought to hold the grain, and corn is
being moved from the regular elevators into
vessels, so that when navigation opens the
pressure for storage room will be greatly re-
duced. Still, there is nothing like the amour
of grain 10 come forward from the interior that
is generally figured on Nothing worth men,
tioning will be shipped in from Minneapolis and
the Northwest by rail, for the reason that the
wheat win be all wanted by the mills, which
can not afford to shut down and lose the trade
they have been years building up. To be sure,
Armour owns some 200, 600 bushels at Duluth
and Milwaukee, but well informed traders be-
lieve that Armour is allied with the Standard
Oil people.
The vicious "shake-outs" witnessed lately
bear the impress OF previous Armour manipu-
lations. There may be more less bluffiing
but it is pretty certain that the wheat at these
two lake ports will drift down toward tide-water
without stopping at Chicago.
Corn rules heavy under realizing by longs.
vessel-men do not now expect the straits to open
before May 1. Hence railroads are refusing to
load corn west of the Missouri for elevator stor-
age, and all receivers are diseouraging ship
ments OF grain from interior points until the
warehouse pressure here is removed. After Chi
cago's stocks are reduced by the sailing of the
grain feet there may be chance for some ad-
vance, as receipts are very small.
In lard and ribs the "tailersf have been quite
thoroughly shaken out by the recent decline,
and it now looks as though strong parties were
buying. Receipts OF hogs, however, are large.